Homebuying: Where to Start

You’ve made the decision to buy a house – congratulations! That’s a big step for you both personally and financially.

Whether you’re a first-time homebuyer or not, the information you’ll learn will help you prepare for your homebuying experience, and your credit union is here to help you with this process.

Your To-Do List

This simple “to-do” list will help ensure you have all the information you’ll need to get the mortgage process started.

  1. Establish your budget: The financial calculators on our website guide you through the budgeting process and help you figure out how much you can afford monthly.
  1. Check Your credit report: Make sure it’s accurate. This is your “report card” on your credit, and any lender will look at your credit report to check your creditworthiness. Contact your credit union to learn more about attaining a free copy of your credit report.
  1. Get preapproved or prequalified: Getting your loan preapproved or prequalified could help leverage your offer to buy a home. For example, if you’re competing on an offer and the other homebuyer does not have this financial information, you have a better chance of winning the offer.
  1. Interview a Realtor: Your Realtor is your guide in the homebuying process. You’ll share financial details with them, and you’ll trust them to find the house that fits your needs. Make sure their experience and the chemistry are a good fit for you.
  1. Know your terms: Many people think of a mortgage as a 30-year fixed loan. There may be multiple terms available for your mortgage, but you need help deciding which one(s) best fits your needs. Talk about your options with our loan originators.

Buying a house is one of the biggest investments of your life. It can certainly be intimidating, but we’re here to help. By choosing to get your mortgage loan with your trusted credit union, you’ll be well underway in realizing the American dream of homeownership.


This educational article is provided as a courtesy by your credit union’s home loan partner, myCUmortgage. For information regarding your unique home loan needs, please work with your credit union loan officer.